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Slightly decelerating deal volumes in the Nordic PE market after the turn of the year peak levels

KPMG Nordic Private Equity Data Snapshot, March 2021

KPMG Nordic Private Equity Data Snapshot, March 2021

Last 3 months Nordic and Finnish Buyout and VC deal activity compared to preceding 3 months
 Nordic and Finnish Buyout and VC deal activity

Deal activity

  • The modest deceleration in the Nordic PE deal volume continued in February, however the deal figure in February was still above the last twelve month average level. Worth noting is that the number of trading days is also the smallest in February, potentially affecting the number of deals. In a Nordic comparison, Swedish and Danish deals declined the most from the record levels both markets reached in January.
  • The 3-month rolling deal figure in February still indicated growth for the Nordic aggregate deals thanks to the strong deal activity in December and January. The minor downward slope in February was visible both in the Buyout and VC segments.
  • In Finland the figure declined to 88%, indicating a minor deceleration in deal volume. The number of deals was approximately at par with the last twelve month average level.
Monthly Nordic Buyout and VC deal volume
Nordic Buyout and VC deal volume

Fundraisings

  • OpenOcean, a Finnish VC investor specialized in data solutions and software reached a EUR 92M mark for its third main venture fund, and is aiming for a final close of EUR 130M by mid-way this year. LPs in the new fund include the European Investment Fund (EIF), Tesi, pension funds, major family offices and Oxford University’s Corpus Christi College.
Monthly Nordic Buyout and VC deal volume
Monthly Nordic Buyout and VC deal volume

*) Numbers represents the number of deals per country and the bar the country’s share of the Nordic aggregate deal volume

Deal picks of the month

  • Partners Group, a Swiss headquartered private markets firm, agreed to acquire Parmaco Oy, a leading provider of premium quality modular education buildings in the Nordics from a consortium led by European private equity firms Terra Firma and Metric Capital.
  • Norvestor has signed an agreement to acquire the majority of the shares in Envera Oy, the company behind the market-leading Smartvatten®. Smartvatten was founded in Finland in 2013 and currently monitors more than 7 000 buildings primarily in Finland, Sweden, Norway and the Benelux countries.
  • Redhill Games, a  Finland-based studio working for the development of a free-to-play PC game, completed a funding round of $ 18.6M. The money was raised from new and existing investors, including NetEase, Makers Fund, Kowloon Nights and angel investors.

Private Equity Data Snapshot compiles monthly deal volume data from Finland and the Nordics. Read our older Private Equity Data Snapshots.

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